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A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
Top News
De Beers & GJEPC Leaders Discuss Market Challenges
Mumbai: Mr. Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group, met the GJEPC leadership at the Bharat Diamond Bourse in Mumbai on 28 November. Rowley was joined by Sean Lin, VP Sales, De Beers Group, and Sunil Dias, Diamond Consultant, De Beers. The De Beers officials were received by GJEPC’s leadership including Kirit Bhansali, Chairman; Shaunak Parikh, Vice
Flanders Allows Foreign Diamond Workers in Antwerp
Antwerp: The Council of Ministers of the Flemish Government decided on the proposal of Minister of Work Zuhal Demir, that foreign workers may be employed for the shortage occupations of diamond polishers and diamond sorters. The decision is an important boost for the Antwerp diamond sector, which faces a structural shortage of these specialised profiles. They are scarcely available on
18 Antwerp Diamond Co. Finance for Medicines in Botswana
Antwerp: Botswana’s Minister of Minerals and Energy, Joy Bogolo Kenewendo, is visiting the Antwerp diamond sector this week to thank 18 diamond companies that jointly financed life-saving medicines and medical supplies. The Antwerp diamond community mobilised after Botswana declared a medical state of emergency this summer due to a severe shortage of essential medicines. Thanks to the funds raised, more
BDB Hosts RJC Roadshow & Board Meeting
Mumbai: Reinforcing its commitment to global best practices, Bharat Diamond Bourse (BDB) hosted the Responsible Jewellery Council (RJC) Roadshow, bringing together international experts and industry professionals for focused discussions on responsible, transparent, and future-ready practices in the diamond and jewellery sector. Led by Mr. Dave Meleski, Chairman, RJC, the programme featured presentations by Ms. Suzanne Brooks, General Manager – Standards,
Edward Asscher Joins RJC Board
New York: The Responsible Jewellery Council (RJC) has elected World Diamond Council (WDC) president Edward Asscher as one of the new representatives to its board. Asscher will represent the trade association forum on the RJC’s board of directors, the industry standards organization said last week. His appointment was announced along with several others at the RJC’s annual general meeting (AGM)
Natural Diamond Council Forays into UAE
Mumbai: Natural Diamond Council (NDC), a not-for-profit organization dedicated towards increasing transparency and upholding the integrity of the modern natural diamond industry, announced a collaboration with Malabar Gold & Diamonds, Jawhara Jewellery and La Marquise Jewellery – three of the leading jewelers in the United Arab Emirates, to advocate the “Natural Diamond Dream”. Enhancing trust in the natural diamond industry,
GJEPC's 2nd India Global Connect Meet with Malaysia
Mumbai: India’s Gem and Jewellery Export Promotion Council (GJEPC) organised the 2nd India Global Connect meet with Malaysia on 2nd June, a follow up of the 14th Feb meet this year. The meeting touched upon ways to strengthen the gem and jewellery trade between the two countries. The forum was attended by H.E. Mr. B.N. Reddy, High Commissioner of India
Rio Tinto Launches Icon Partner Program
Perth: Rio Tinto has launched the new Icon Partner program, as part of its strategy for the future development of the Argyle Pink Diamonds brand. Following the November 2020 closure of the Argyle mine in Western Australia, Rio Tinto has retained and managed the Argyle Pink Diamonds brand and has been working with its exclusive distribution network to ensure it
